posted by catman in In The News

Expert: Shale Gas Boom a Bubble About to Pop

January 23, 2013

One of the top geologists in the oil exploration and production business says the following:

* shale gas production by hydraulic fracturing (“fracking”) is a commercial failure. Is. Present tense.
* shale gas will be the next financial “bubble” to collapse.
* holding out the possibility of energy independence for the United States is “absurd.” To suggest it could be done in five years is “garbage.”

His name is Arthur Berman and he is no tree hugger. For 34 years he has been finding and developing oil fields, and he works for Big Oil. His attitude toward the planet-threatening downside of burning fossil fuels is basically that you have to break a few eggs to have an omelette. But Mr. Berman knows arithmetic, both how to add and more importantly how to subtract.

(Continued here:)

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